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Home » Store » Taxable » OTS Proposes to Scale Back Protection of Federal Parity Act for State-Licensed Mortgage Lenders

OTS Proposes to Scale Back Protection of Federal Parity Act for State-Licensed Mortgage Lenders

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The Office of Thrift Supervision is floating a regulatory proposal that would strengthen the hand of state governments seeking to limit prepayment penalties. The OTS’s proposed rule, published in the April 24 Federal Register, would eliminate prepayment penalties from the list of loan terms eligible for preemption under the Alternative Mortgage Transaction Parity Act. The agency also suggested that AMTPA may
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